Arrived in Baku breeders from Canada
arrived in Baku breeders from Alberta Canada by a leading specialist of the Department of International Relations and Marketing Department of Agriculture and rural development of the province. Today the Foundation to promote exports and investment in Azerbaijan (AZPROMO) held a working meeting with the Canadian delegation.
In AZPROMO they told Turan that the delegation includes representatives of six companies that specialize in the areas of animal meat and dairy, feed production.
The Canadian delegation will hold meetings in the Ministry of Agriculture.
Over the last 3-4 years, the Azerbaijani government subsidizes update livestock due to pedigree cattle from Europe.
The trade turnover between Azerbaijan and Canada in 2012 exceeded $ 41 million is 60% more than in 2011. At the same time imports from Canada totaled $ 32.6 million (two times). 08D
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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